Inside the Meltdown
http://www.pbs.org/wgbh/pages/frontline/meltdown/view/ INSIDE THE MELTDOWN ''' '''PART 1 Duration: 10min.23sec. Language input: Pre-viewing 1) Match the words having similar meanings: ' ' ' While viewing ' 1) Identify the English equivalents for the following: в считанные дни главные законодатели сомнительные ипотеки повышение цены им необходимы полномочия на использование 2) Translate from English into Russian: ' '''stock keeps getting hammered a Wall Street firm beset by rumors Alan looks to some people like he`s not on the ball ' 3) Match the words to produce the proper collocations:' ' ' ' ' ' 4) Answer the following questions:' 1 What was the situation like before the spring of 2008? 2 What happened to Bear Stearns on March 10? 3 What is the narrator`s attitude towards rumors on Wall Street? 4 What are “toxic assets”? 5 What kind of procedure did one have to follow to get a mortgage 30 years ago? How different is it from that of 2005? 6 What kind of mentality did accelerating housing prices create? 7 What proves that Bear`s CEO seemed not to be on the ball? '''PART 2' Duration: from 10min.24sec. to 19min.16sec. Language input: ' ' ' ' Pre-viewing 1) Match the words having similar meanings: ' ' While viewing ''' '''1) Identify the English equivalents for the following: ' 'возобновлять кредит история получила свое дальнейшее продолжение 2) Translate from English into Russian: ' '''he is a true Wall Street nuts & bolts guy' ' ' ' '''3) Match the words to produce the proper collocations:' ' ' ' ' 4) Answer the following questions: 1 How is Tim Geithner characterized? 2 What was Tim Geithner`s initial decision in terms of Bear`s fate? Why? 3 Why are credit default swaps called mysterious instruments? 4 Why didn`t the Federal Reserve let Bear go belly up? 5 How is Ben Bernanke characterized? 6 The Federal Reserve was prohibited from direct lending cash to Bear. How did they bypass this rule? 7 Why did Bernanke`s plan to bail out Bear backfire? ' PART 3' Language input: ' ' Pre-viewing 1) Match the words having similar meanings: ' ' While viewing ''' '''1) Identify the English equivalents for the following: ' ' инвесторы выбрасывали акции в большом количестве оглядываясь назад 2) Translate from English into Russian: the toxic mortgage contagion was loose again D. Fuld was a fixture on Wall Street They had drunk their own Kool-Aid. Fuld had been with Lehman for so long that a certain type of arrogance had crept into how Lehman did business. a central precept of the catechism of the free market 3) Match the words to produce the proper collocations: ' ' 4) Answer the following questions: ''' '''1 What pieces of evidence prove that the toxic mortgages proceeded to eat away at every major Wall Street firm? 2 Why is Fannie Mae & Freddie Mac`s failure equal to the very definition of systemic risk? 3 How did Paulson & Bernanke manage to prevent the possible major financial catastrophe in September 2008? Was it the right decision? 4 How is Dick Fuld characterized? 5 Will you comment on the following: “ …in hindsight, it`s easy to see there was a bubble. But you know, when you are at a party having a good time, sometimes it`s hard to stop and leave the party”.